Buying in Goodyear, Az a house that does not cash-flow.

Member since 2018 · 1 post · 1 vote

Would this be a good idea? I will run (-) for about $200/mo. And, even the house does not need repairs, the roof is close to the end of its life, and I have not counted yet for possible repairs or possible vacancy in the future. If I would like to have a renter fast I will have to rent it out at $1600.00 The appreciation will be slow. 16167 W Hardley. Goodyear, Az 85338

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Walter Moneypenny
Realtor · Phoenix · Member since 2023 · 73 posts · 38 votes
5mo
Are you closing on this home? (I see it is pending.) If you need rental advice, reach out to me. I've done a lot of rentals in the area and know it well.
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Mason WeissBusiness Member
Realtor · Phoenix, AZ · Member since 2021 · 523 posts · 239 votes
5mo
I don't think so, there are better opportunities at similar price points in better areas that will rent for closer to $2,000 in the greater Phoenix area.
[email protected]480-818-7745
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Patrick O'SullivanBusiness Member
Property Manager · Phoenix, AZ · Member since 2024 · 540 posts · 208 votes
5mo
Take a step back and look at the full picture before moving forward. Going in negative each month without factoring in vacancy, repairs, and a near-term roof replacement adds more risk than it might seem at first.

If the deal does not cash flow from day one and appreciation is expected to be slow, it becomes harder to justify unless there is a clear long-term strategy or strong upside elsewhere.

There are usually other opportunities that at least break even or come closer to it. It might make sense to keep looking rather than force a deal that already starts in the red.
[email protected]480-795-7938
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Henry ClarkPro Member
Developer · Member since 2020 · 4k+ posts · 4k+ votes
5mo
OP
The list price is not your price.
Take Capex, budgeted occupancy, expected return. Make your price, make a 3 day offer. Then go to the next deal.
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Marc OliverPro Member
Member since 2025 · 34 posts · 13 votes
5mo
Quote from @Rocio Chevalier:

Would this be a good idea? I will run (-) for about $200/mo. And, even the house does not need repairs, the roof is close to the end of its life, and I have not counted yet for possible repairs or possible vacancy in the future. If I would like to have a renter fast I will have to rent it out at $1600.00 The appreciation will be slow. 16167 W Hardley. Goodyear, Az 85338

Don't buy unless it's cash flow positive! There are opportunities out there that offer that, Why settle for one that will cost you money. I don't think we will see much property appreciation in the next 18-24 months, if any.
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